CVR Energy Stock Forecast
Red day on Friday for CVR Energy
(Updated on Apr 26, 2024)
The CVR Energy stock price fell by -0.479% on the last day (Friday, 26th Apr 2024) from $33.38 to $33.22. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.81% from a day low at $32.80 to a day high of $33.40. The price has fallen in 7 of the last 10 days and is down by -5.46% for this period. Volume has increased on the last day by 227 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 704 thousand shares were bought and sold for approximately $23.38 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $32.64 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 2.54% during the next 3 months and, with a 90% probability hold a price between $33.47 and $38.84 at the end of this 3-month period.
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CVI Signals & Forecast
There are mixed signals in the stock today. The CVR Energy stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $34.97. On a fall, the stock will find some support from the short-term average at $33.19. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 2.06%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for CVR Energy stock
CVR Energy finds support from accumulated volume at $32.77 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.595 between high and low, or 1.81%. For the last week, the stock has had daily average volatility of 2.82%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CVI) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect CVR Energy Inc to open at $33.14, and during the day (based on 14 day Average True Range), to move between $32.17 and $34.27, which gives a possible trading interval of +/-$1.05 (+/-3.16%) up or down from last closing price. If CVR Energy Inc takes out the full calculated possible swing range there will be an estimated 6.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $33.44 (0.66%) than the support at $32.77 (1.35%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
CVR Energy will release earnings BMO on Monday, April 29, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.130. We will update the financials statements for CVR Energy, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.23% in the first trading day after earnings release.
Is CVR Energy Inc stock A Buy?
CVR Energy holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.555 Sell Candidate Unchanged
Predicted Opening Price for CVR Energy Inc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $33.14 ( 0.246%) | $33.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CVI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.73 | 1.55 % | |
| R2 | 33.51 | 0.86 % | ||
| R1 | 33.37 | 0.438 % | ||
| Current price: | 33.22 | |||
| Support | S1 | 32.91 | -0.93 % | |
| S2 | 32.77 | -1.35 % | ||
| S3 | 32.54 | -2.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 35.25 | 6.11 % | |
| R2 | 34.47 | 3.76 % | ||
| R1 | 33.44 | 0.662 % | ||
| Current price | 33.22 | |||
| Support | S1 | 32.77 | -1.35% | |
| S2 | 32.54 | -2.05% | ||
| S3 | 32.47 | -2.26% |
CVI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 20, 2024 | Mar 01, 2024 | Mar 11, 2024 | $0.500 | 1.52% |
| 2 | Oct 30, 2023 | Nov 10, 2023 | Nov 20, 2023 | $2.00 | 6.28% |
| 3 | Oct 30, 2023 | Nov 09, 2023 | Nov 20, 2023 | $1.50 | 4.71% |
| 4 | Jul 31, 2023 | Aug 11, 2023 | Aug 21, 2023 | $1.00 | 2.90% |
| 5 | May 01, 2023 | May 12, 2023 | May 22, 2023 | $0.500 | 1.97% |
FAQ
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